Citizens Bank to cut 125 workers in Bridgeport

BRIDGEPORT >> Citizens Bank is reducing its Connecticut workforce by nearly 14 percent later this year as it lays off 125 employees working out of an office in the Park City.

The layoffs will begin Aug. 1 and continue through late October, the Providence-based bank said in a filing made Monday with the Connecticut Department of Labor. Lauren DiGeronimo, a spokeswoman for the bank, wouldn’t say what the workers who are being laid off do for the bank, but Citizens acquired the credit card division of People’s Bank in 2004 and its believed that is where the layoff are coming from.

Citizens currently employs 900 people in Connecticut, DiGeronimo said.

“As part of an effort to manage costs and improve efficiency, we are eliminating some positions in our Bridgeport office,” DiGeronimo said in a statement. “We are working closely with impacted colleagues to provide severance benefits and outplacement and career assistance. Eligible colleagues also will be given priority consideration for open positions.”